Minister of Finance and Coordinating Minister for the Economy, Mr Wale Edun, on Thursday, presented a new minimum wage template to President Bola Ahmed Tinubu.
With this development, the Minister has beaten the 48-hour deadline set by President Tinubu.
Edun had earlier submitted the projected cost implications of implementing a new national minimum wage to the President.
Edun, alongside Minister of Budget and National Planning, Atiku Bagudu, presented Tinubu with the cost implications of the new minimum wage in his office at the Presidential Villa in Abuja.
It was gathered that the new proposal suggests a minimum wage of N105,000 (approximately $220) per month for Nigerian workers.
The President, it was learnt, is currently reviewing this proposal while an official announcement is expected to be made soon.
This development is sequel to a recent nationwide strike organised by both the Nigeria Labour Congress and the Trade Union Congress.
The Labour unions embarked on the strike on Monday after their meeting with the National Assembly leadership failed to produce a satisfactory outcome.
The Labour strike significantly disrupted economic activities nationwide, leading to the closure of international airports, schools, courts, banks, and hospitals.
But on Tuesday, the organised labour comprising the Nigeria Labour Congress and Trade Union Congress, suspended the strike for five days to allow for further negotiations with the Tripartite Committee on the new minimum wage.
